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As tensions escalate in the Middle East, the Iranian Revolutionary Guard Corps (IRGC) made a striking statement regarding the Strait of Hormuz. According to the statement, Arab and European countries that expelled the US and Israeli ambassadors will be granted free passage through the Strait of Hormuz. This is interpreted as Tehran aiming to increase diplomatic support in the region and attempting to use its leverage amidst the conflict between the US and Israel.
However, this statement has already had a significant impact on maritime activities in the region.
Following the US and Israeli attacks on Iran on February 28, 2026, tensions rapidly increased, and the IRGC announced on March 2 that it had closed the Strait of Hormuz. This resulted in approximately 150 tankers being grounded and severely disrupting commercial maritime transport.
The 2026 Strait of Hormuz crisis erupted after joint US and Israeli military operations against Iran. Iran retaliated with missile and drone strikes.
On March 5, the Revolutionary Guard announced that the Strait of Hormuz would remain closed only to ships belonging to the US, Israel, and their Western allies, while other ships would be allowed to pass. There had even been reports on March 4 that only Chinese ships would be allowed to pass due to China's support for Iran.
These developments shocked global energy markets, causing oil prices to rise above $100 per barrel. Warnings were issued that Brent oil prices could rise by 10-13% if the strait were completely closed.
Since the start of the crisis, many commercial ships have been damaged, and at least eight seafarers have lost their lives. Major container shipping companies such as Maersk, MSC Group, and Hapag-Lloyd have suspended or restricted their operations in the region.
Experts say that a complete closure of the strait by Iran would severely damage its own economy and provoke a strong reaction from the international community. However, Iran's rhetoric and regional activities are also being used as a strategic leverage, particularly in terms of Europe's energy dependence and Russia's influence over Europe.
#GlobalOilPricesSurgePast$100
However, this statement has already had a significant impact on maritime activities in the region.
Following the US and Israeli attacks on Iran on February 28, 2026, tensions rapidly increased, and the IRGC announced on March 2 that it had closed the Strait of Hormuz. This resulted in approximately 150 tankers being grounded and severely disrupting commercial maritime transport.
The 2026 Strait of Hormuz crisis erupted after joint US and Israeli military operations against Iran. Iran retaliated with missile and drone strikes.
On March 5, the Revolutionary Guard announced that the Strait of Hormuz would remain closed only to ships belonging to the US, Israel, and their Western allies, while other ships would be allowed to pass. There had even been reports on March 4 that only Chinese ships would be allowed to pass due to China's support for Iran.
These developments shocked global energy markets, causing oil prices to rise above $100 per barrel. Warnings were issued that Brent oil prices could rise by 10-13% if the strait were completely closed.
Since the start of the crisis, many commercial ships have been damaged, and at least eight seafarers have lost their lives. Major container shipping companies such as Maersk, MSC Group, and Hapag-Lloyd have suspended or restricted their operations in the region.
Experts say that a complete closure of the strait by Iran would severely damage its own economy and provoke a strong reaction from the international community. However, Iran's rhetoric and regional activities are also being used as a strategic leverage, particularly in terms of Europe's energy dependence and Russia's influence over Europe.
#GlobalOilPricesSurgePast$100